Market Cap Segment Review At Nasdaq Nordic Exchanges

Nasdaq (Nasdaq: NDAQ) reports that the annual review of its Nordic market capitalization (market cap) segments is completed. The revision is based on the average market cap value in November 2016. Together with indexes and sector classifications, the market cap segmentation is a tool to increase visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen and Iceland.

Effective January 2, 2017, the following 37 companies will change segment. 35 companies change to a larger segment, while 2 companies change to a smaller segment.

Company	Current Segment	New List	Listing Venue

Acando AB ser. B	Small Cap	Mid Cap	Stockholm
Active Biotech AB	Mid Cap	Small Cap	Stockholm
Addnode Group AB ser. B	Small Cap	Mid Cap	Stockholm
Attendo AB	Mid Cap	Large Cap	Stockholm
Avanza Bank Holding AB	Mid Cap	Large Cap	Stockholm
Biotage AB	Small Cap	Mid Cap	Stockholm
Bravida Holding AB	Mid Cap	Large Cap	Stockholm
Collector AB	Mid Cap	Large Cap	Stockholm
Elanders AB ser. B	Small Cap	Mid Cap	Stockholm
Hansa Medical AB	Small Cap	Mid Cap	Stockholm
Hemfosa Fastigheter AB	Mid Cap	Large Cap	Stockholm
Hemfosa Fastigheter AB pref	Mid Cap	Large Cap	Stockholm
I.A.R Systems Group AB ser. B	Small Cap	Mid Cap	Stockholm
Karo Pharma AB	Small Cap	Mid Cap	Stockholm
Kungsleden AB	Mid Cap	Large Cap	Stockholm
Net Insight AB ser. B	Small Cap	Mid Cap	Stockholm
Oasmia Pharmaceuticals AB	Mid Cap	Small Cap	Stockholm
Oscar Properties Holding AB	Small Cap	Mid Cap	Stockholm
Oscar Properties Holding AB pref	Small Cap	Mid Cap	Stockholm
Oscar Properties Holding AB pref B	Small Cap	Mid Cap	Stockholm
Probi AB	Small Cap	Mid Cap	Stockholm
Sagax AB A	Mid Cap	Large Cap	Stockholm
Sagax AB B	Mid Cap	Large Cap	Stockholm
Sagax AB D	Mid Cap	Large Cap	Stockholm
Sagax AB pref	Mid Cap	Large Cap	Stockholm
Svolder AB ser. A	Small Cap	Mid Cap	Stockholm
Svolder AB ser. B	Small Cap	Mid Cap	Stockholm
Thule Group AB	Mid Cap	Large Cap	Stockholm
Vitec Software Group AB ser. B	Small Cap	Mid Cap	Stockholm
ÅF, AB ser. B	Mid Cap	Large Cap	Stockholm

Comptel Oyj	Small Cap	Mid Cap	Helsinki
eQ Oyj	Small Cap	Mid Cap	Helsinki
Scanfil Oyj	Small Cap	Mid Cap	Helsinki
Teleste Oyj	Small Cap	Mid Cap	Helsinki

ALK-Abello A/S B	Mid Cap	Large Cap	Copenhagen
Ambu A/S B	Mid Cap	Large Cap	Copenhagen
BankNordik P/F	Small Cap	Mid Cap	Copenhagen
Jeudan A/S	Mid Cap	Large Cap	Copenhagen
Schouw & Co. A/S	Mid Cap	Large Cap	Copenhagen
Spar Nord Bank A/S	Mid Cap	Large Cap	Copenhagen

BankNordik P/F	Small Cap	Mid Cap	Iceland
Marel hf.	Mid Cap	Large Cap	Iceland
N1 hf.	Small Cap	Mid Cap	Iceland
Reginn hf.	Small Cap	Mid Cap	Iceland
Vatryggingafelag Islands hf.	Small Cap	Mid Cap	Iceland

About the market cap segments

Companies belong to a market cap segment (Small-, Mid- and Large Cap) based on their average market value during the given review month. Each segment is reviewed annually based on the average market cap in November with adjustments taking effect in January the following year. The market cap calculations are based on the total number of shares, i.e. both listed and non-listed shares, of a company. Companies with a market value exceeding EUR 1 billion are in the group of “Large Cap”, while companies with a market value smaller than EUR 150 million belong to “Small Cap”. Companies with a market value between EUR 150 million and EUR 1 billion belong to the “Mid Cap” segment.

12 month transitional period

Companies whose market cap has moved outside the reference values for their current classification are moved between segments according to the following rule: If their market cap is less than 50 percent of the minimum or more than 150 percent of the maximum threshold of their current segments they are transferred into a new segment with immediate effect. On the other hand, if their market cap is greater than 50 percent of the minimum or less than 150 percent of the maximum threshold of their current segment they are subject to a transitional period and thus one more review before transferring into a new segment. Hence, based on the EUR 1 billion Large Cap and EUR 150 million Mid Cap thresholds, a Large Cap company whose market cap value has not fallen below EUR 500 million, and a Mid-cap company whose market cap value has not fallen below EUR 75 million, are subject to a second review before moving down to the new segment. Similarly, a Mid Cap company whose market cap value has not exceeded EUR 1.5 billion and a Small-cap company whose market cap value has not exceeded EUR 225 million, are subject to a second review before moving up to the new segment.